Harrogate is poised for a peak in rental demand following the release of new figures showing that the sector has grown by 10%.
National figures recorded a two-year low in December but Harrogate didn’t experience a downfall and continued to remain buoyant throughout.
Now that figures are on the increase across the country, Harrogate landlords are well poised for a record year.
ARLA Propertymark reported an increase in tenant and property registrations and a rise in the number of managed rental properties.
A survey of property agents also revealed that almost a quarter had seen rents increase from the start of 2017 due to strong demand.
There is also evidence that landlords are not being deterred by buy-to-let tax changes.
On the contrary, a recent survey shows that the number of landlords wanting to buy property has risen to 13%, up from 9% a year ago. More than 90% of landlords currently believe tenant demand is growing.
Our experience in Harrogate is that demand for rental property continues to be high, making this an attractive market for landlords. New rental properties attract significant interest from potential tenants and there is a shortage of certain types of property, particularly those within easy access of Harrogate town centre.
We are also finding that an increasing number of landlords are interested in our managed service. At FSS we have our own maintenance department and this means we can react quickly to property care and repair issues on behalf of both landlords and tenants.
The strength of the local rental market has sparked considerable interest in our March auction, which has a good selection of properties suitable for investors. The auction will be held on March 9th at Pavilions of Harrogate and potential buyers can view the lots online here.
If you are a landlord with a property to rent call our lettings team on 01423 534194.
To enquire about our auction on March 9th call 01423 534183.